Humana's 18.5% net income boost in Q2: 8 notes

Humana saw a double-digit increase to its net income compared to last year's second quarter and said 22 percent more of its members are now covered under a value-based care model, according to the company's earnings report filed July 27.

"We are pleased with our significant progress in growing the business, including our primary care clinics and our organic expansion of Medicaid membership, combined with the initial rollout of our value-based home care," President and CEO Bruce Broussard said. "In addition, our strong 2022 EPS growth of 20 percent, and the investments our one billion-dollar value initiative allowed us to make in our 2023 Medicare Advantage product offerings demonstrate our commitment to balancing our long-term membership and earnings growth targets."

Eight things to know:

  1. Revenues increased 14.6 percent year over year, rising from $20.6 billion to $23.7 billion.

  2. Operating expenses rose 15.7 percent year over year, rising from $19.4 billion to $22.4 billion.

  3. Net income rose 18.5 percent year over year, rising from $588 million to $696 million. For the first six months of 2022, net income is $1.6 billion.

  4. Fully insured commercial members shrank 15.7 percent year over year, decreasing to 595,400 members.

  5. ASO commercial members shrank 10 percent year over year, decreasing to 448,100 members.

  6. State-based contracts increased 20 percent year over year to 1,053,000 members.

  7. Total Medicare Advantage members increased 4.5 percent year over year to 5,117,600 members.

  8. Members covered under a value-based care model grew 22.3 percent year over year, increasing to 330,900 as of June 30.



Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Webinars

Top 40 articles from the past 6 months